By Sheri Kasprzak
New York, July 21 - The Florida Department of Transportation priced $200 million in series 2009A right-of-way acquisition and bridge construction bonds on Tuesday, said a sellside source connected to the deal.
The bonds (Aa1/AAA/AA+) were sold competitively with Morgan Stanley & Co. Inc. winning the bid. The true interest cost came in at 4.73%.
The bonds are due 2010 to 2030 with term bonds due 2034 and 2039.
Proceeds will be used to acquire real property and rights-of-way to construct bridges throughout the state.
| Issuer: | Florida Department of Transportation
|
| Issue: | Series 2009A right-of-way acquisition and bridge construction bonds
|
| Amount: | $200 million
|
| Type: | Competitive
|
| Underwriter: | Morgan Stanley & Co. Inc. (winner)
|
| TIC: | 4.73%
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AAA
|
| Fitch: AA+
|
| Pricing date: | July 21
|
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